Following the Heinrich Kieber-induced international tax evasion scandal that lead international regulators to its door, Liechtenstein, the famous European tax haven is apparently planning on softening its bank secrecy laws.

As per a new agreement, set to be signed next week with American regulators, Liechtenstein will begin turning over banking records for individuals currently under investigation or currently being prosecuted for tax evasion in the U.S.

The key bit there is the part about being currently under investigation.

Beyond that narrow window, Liechtenstein is keeping the shades drawn tight, leading some to suggest that the nation's newly touted cooperation is little more than an attempt to change the subject.

-- MDT

Labels: Heinrich Kieber, Liechtenstein, tax evasion